Starting today, I will be providing a weekly update on the latest movements in the RP Data-Rismark daily dwelling price indices, which covers the five major capital city markets.
In the week ended 7 February 2013, the 5-city dwelling price index fell by -0.22%, which was the second consecutive week of falls, but follows a four week run of rising prices (see next chart).
All major capital city markets, except Brisbane, experienced declines over the week, led by Melbourne (see next chart).
Over the past 12 months, values have risen by 1.33% at the 5-city level, with all major markets, except Melbourne, experiencing price rises (see next chart).
The next chart plots the daily movements on a 14-day moving average, in order to smooth volatility. As you can see, Sydney and Perth values are in an uptrend, and Brisbane looks like it is in the process of breaking-out. By contrast, Adelaide values look to be trending sideways, whereas, Melbourne’s remain in a tentative downtrend (see next chart).
Values are now down -4.9% since peak at the 5-city level, with Sydney almost recovering all of its lost ground, and Brisbane and Melbourne suffering the greatest losses (see next chart).
